Patel Retail IPO is a book-built issue worth ₹242.76 crore. The offering comprises a fresh issue of 0.85 crore shares aggregating to ₹217.21 crore and an offer for sale of 0.10 crore shares aggregating to ₹25.55 crore. The subscription period opens on August 19, 2025, and closes on August 21, 2025.
The basis of allotment is expected to be finalised on August 22, 2025, with the tentative listing date set for August 26, 2025, on both BSE and NSE. The IPO price band is fixed between ₹237 and ₹255 per share. The lot size is 58 shares, requiring a minimum retail investment of ₹13,746.
For small non-institutional investors (sNII), the lot size is 14 lots (812 shares) amounting to ₹2,07,060, while for big non-institutional investors (bNII), it is 68 lots (3,944 shares) amounting to ₹10,05,720.
Fedex Securities Private Limited is the book-running lead manager for the issue, and Bigshare Services Private Limited is acting as the registrar. For comprehensive details, the Patel Retail IPO Red Herring Prospectus (RHP) should be referred to before making investment decisions.
Industry Outlook
- The Indian retail market is expected to grow from USD 1,300 billion in 2025 to USD 1,890 billion by 2030, driven by rising incomes, urbanisation, and modern trade expansion.
- Organised retail, currently at 12%-15% share, is projected to rise steadily, supported by digital adoption, improved infrastructure, and expansion into tier 2 and tier 3 cities.
- The food and grocery segment, contributing 63% of the retail market, is projected to grow at a 10% CAGR between 2022 and 2030, with increasing demand for premium, hygienic, and convenient food products.
Patel Retail IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- The company plans to use the funds to repay or prepay certain borrowings to reduce debt and improve financial stability.
- A portion of the proceeds will be used to meet the working capital needs for smooth daily operations.
- The issue will also support general corporate purposes, helping with business efficiency and growth.
About Patel Retail Limited
Patel Retail Limited is a supermarket chain focused on value retail, primarily operating in tier-III cities and nearby suburban areas. Established in 2008 with its first store in Ambernath, Maharashtra, the company has expanded to 43 stores as of May 31, 2025, covering a retail business area of approximately 1,78,946 sq. ft.
Operations are concentrated in the suburban regions of Thane and Raigad districts, catering to lower-middle, middle, and aspiring upper-middle-class customers. The company offers over 10,000 product SKUs across 38 categories, including food, non-food (FMCG), general merchandise, and apparel.
Private label brands such as “Patel Fresh,” “Indian Chaska,” “Blue Nation,” and “Patel Essentials” form a key part of its product portfolio, covering items like pulses, spices, ready-to-cook mixes, and apparel. These products are processed, packaged, and quality-checked at facilities in Maharashtra and Gujarat, including a large agri-processing cluster with production, cold storage, and research facilities.
Patel Retail also exports staples, groceries, pulses, spices, and pulps to over 35 countries while engaging in domestic and export trading of FMCG goods, household items, and agricultural commodities. Its stores are strategically located in densely populated residential areas, offering competitive prices, convenience, and a one-stop shopping experience.
Following a cluster-focused expansion strategy, the company plans to strengthen its presence in the western suburbs of the Mumbai Metropolitan Region and expand into Pune. Its combination of modern retail formats, local market knowledge, and supply chain efficiency positions it strongly within the growing organised retail sector.
How To Check the Allotment Status of Patel Retail IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for the Patel Retail IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Patel Retail IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Patel Retail IPO
Registered office: Plot No. M-2, Anand Nagar, Additional MIDC, Ambernath (East)-421506, Ambernath, Maharashtra, India
Phone: +91 7391043825
E-mail: cs@patelrpl.net
Patel Retail IPO Reservation
|
Investor Category |
Shares Offered |
|
QIB Shares |
Not more than 30% of the Net Offer |
|
Retail Shares |
Not less than 45% of the Net Offer |
|
NII Shares |
Not less than 25% of the Net Offer |
Patel Retail IPO Investor Category Reservations
|
Investor Category |
Maximum Investment Limit |
|
Retail Individual Investor (RII) |
Up to ₹2,00,000 |
|
Small Non-Institutional Investor (sNII) |
Above ₹2,00,000 and up to ₹10,00,000 |
|
Big Non-Institutional Investor (bNII) |
Above ₹10,00,000 up to the NII reserved portion |
|
Employee |
Up to ₹2,00,000 (may include discount for eligible bids) |
|
Employee + RII / NII |
As Employee: Up to ₹2,00,000 (discount may apply) |
Patel Retail IPO Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Retail (Min) |
1 |
58 |
₹14,790 |
|
Retail (Max) |
13 |
754 |
₹1,92,270 |
|
S-HNI (Min) |
14 |
812 |
₹2,07,060 |
|
S-HNI (Max) |
67 |
3,886 |
₹9,90,930 |
|
B-HNI (Min) |
68 |
3,944 |
₹10,05,720 |
Patel Retail IPO Promoter Holding
The promoters of the company include Dhanji Raghavji Patel, Bechar Raghavji Patel, Hiren Bechar Patel and Rahul Dhanji Patel.
|
Share Holding Pre-Issue |
97.99% |
|
Share Holding Post Issue  |
70.01% |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Patel Retail IPO
|
KPI |
Value |
|
ROE (%) |
19.02 |
|
RoCE (%) |
14.43 |
|
RoNW (%) |
19.02 |
|
PAT Margin (%) |
3.08 |
|
Price to Book Value  |
4.72 |
|
EBITDA Margin (%) |
7.61 |
Patel Retail IPO Prospectus
Patel Retail IPO Registrar and Lead Managers
Patel Retail IPO Lead Managers
- Fedex Securities Private Limited
Registrar for Patel Retail IPO
Bigshare Services Private Limited
- Contact Number: +91-22-6263 8200
- Email Address: ipo@bigshareonline.com
Patel Retail IPO Registrar
Financial Performance of Patel Retail Limited
| Particulars | Year ending on March 31, 2025 | Year ending on March 31, 2024 |
|---|---|---|
| Revenue from Operation (in ₹ lakh) | 82,069.29 | 81,418.83 |
| Profit/loss After Tax (in ₹ lakh) | 2,527.81 | 2,253.34 |
| Earnings per Equity Share (₹) | 10.30 | 9.24 |
| Total Borrowings (in ₹ lakh) | 18,053.70 | 18,575.03 |
| Return on Equity (%) | 19.02 | 24.24 |
| Return on capital employed (RoCE) (%) | 14.43 | 15.10 |
| EBITDA (in ₹ lakh) | 6,243.27 | 5,583.94 |
Know before investing
Strengths
8Operates 43 stores with 1.79 lakh sq. ft. retail area.
Offers over 10,000 SKUs, customised to local needs and preferences.
Private label sales reached ₹6,287.44 lakh in Fiscal 2025.
Strong cluster-based expansion strategy in Maharashtra’s tier-III and suburban areas.
Own fleet of 18 trucks and one central distribution centre.
A large procurement network of 1,500+ farmers ensure quality and cost efficiency.
EBITDA grew from ₹4,323.96 lakh in 2023 to ₹6,243.27 lakh in 2025.
Experienced promoters and 229 trained employees driving customer-focused growth.
Risks
8All 43 stores are in Maharashtra, exposing business to regional risks.
Average store sales fell from ₹881.38 lakh in FY23 to ₹878.26 lakh in FY25.
Revenue dropped from ₹1,01,854.78 lakh in FY23 to ₹82,069.29 lakh in FY25.
Export revenue reduced from ₹66,962.58 lakh in FY23 to ₹27,350.98 lakh in FY25.
Debt-to-equity ratio was high at 1.34 in FY25.
No long-term supply contracts for raw materials like wheat and spices.
Capacity utilisation was low, e.g., Facility 2 at 10.49% of its potential output in FY25.
Faces competition from D-Mart, Reliance Retail, Big Bazaar, and local stores.
Patel Retail Limited Peer Comparison
| Company | CMP (₹) | EPS (₹) | P/E Ratio | RONW (%) |
|---|---|---|---|---|
| Patel Retail Limited | - | 10.30 | - | 19.02 |
| Vishal Mega Mart | 146.62 | 1.40 | 104.73 | 9.87 |
| Avenue Supermarts Limited | 4,257.80 | 41.61 | 102.33 | 12.64 |
| Osia Hyper Retail Limited | 12.75 | 1.46 | 8.73 | 4.97 |
| Sheetal Universal Limited | 126.50 | 8.12 | 15.58 | 21.44 |
